Mutual Fund Insights: Fidelity New York Municipal Income Fund (FTFMX)

In-depth Analysis of Fidelity New York Municipal Income Fund (FTFMX)

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See Fidelity New York Municipal Income Fund (FTFMX) performance details as of January 31, 2010

  

Last Trade: $12.97 on 3/16/2010, Change: 0.00 (0%)

  

Fund Manager - Mark Sommer

Fund Manager Tenure: 7.6 years
Fundmojo Fund Grade: B (Score: 0.65)     (What does this score mean?)

Sommer is manager of New York Municipal Income Fund, which he has managed since June 2002. He also manages other Fidelity funds. Since joining Fidelity in 1992, Sommer has worked as an analyst and manager.  Get more insights on Mark Sommer

  

 What we like about Fidelity New York Municipal Income Fund (FTFMX)

Data for Fidelity New York Municipal Income Fund (FTFMX) as of January 31, 2010

• Fidelity New York Municipal Income Fund (FTFMX) management has been with Fidelity New York Municipal Income Fund for 7.6 years
• Fidelity New York Municipal Income Fund (FTFMX) has good mid-term performance (3-year return 4.40% vs 3.02% Muni New York Long category average)
• Fidelity New York Municipal Income Fund (FTFMX) has good Long-term performance (5-year return 3.87% vs 3.20% Muni New York Long category average)
• Fidelity New York Municipal Income Fund (FTFMX) ratio of up-years vs down years is greater than 2
• Fidelity New York Municipal Income Fund (FTFMX) has a Morningstar rating of 4 and above
• Fidelity New York Municipal Income Fund (FTFMX) has an annual stock turnover rate of 17.00% vs Muni New York Long average of 27.73%. It is good that Fidelity New York Municipal Income management does not trade extensively for its return.
• Fidelity New York Municipal Income Fund (FTFMX) is less volatile than its peers as it has a 3-year Standard Deviation of 5.95, lower than category average of 7.67
• Fidelity New York Municipal Income Fund (FTFMX) has a lower management fee than its Muni New York Long average: 0.47% vs 1.06%
• Fidelity New York Municipal Income Fund (FTFMX) is a true no-load fund as it has no load and no 12b1 promotion, distributions, marketing expenses

  

 What we are cautious about Fidelity New York Municipal Income Fund (FTFMX)

Data for Fidelity New York Municipal Income Fund (FTFMX) as of January 31, 2010

• Fidelity New York Municipal Income Fund (FTFMX) has a less-than-ideal short-term performance (1-year return 8.72% vs 13.57% Muni New York Long category average)

See Fidelity New York Municipal Income Fund (FTFMX) performance details as of January 31, 2010

  

  

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Fidelity New York Municipal Income Fund (FTFMX) Net Asset

Track net asset change of Fidelity New York Municipal Income fund (FTFMX)

Date	Net Asset
01/2010	$1.74B
11/2009	$1.71B
10/2009	$1.70B

More historic net asset information on Fidelity New York Municipal Income Fund (FTFMX)

  

Fidelity New York Municipal Income Fund (FTFMX) Portfolio Allocation

Track portfolio allocation change of Fidelity New York Municipal Income fund (FTFMX)

Date	Cash	Stock	Bond	Other
10/2009	0.25%	0%	99.75%	0%
09/2009	0.24%	0%	99.76%	0%
08/2009	0.26%	0%	99.74%	0%

Click here to see more historic asset allocation information on Fidelity New York Municipal Income Fund (FTFMX)

  

Most Recent Top 10 Holdings in Fidelity New York Municipal Income Fund (FTFMX)

Discover what Fidelity New York Municipal Income Fund (FTFMX) manager is buying

31-Oct-09 New York St Twy Auth 5.5% [2.84%] New York Convention Ctr Dev Co Rev Bd 5% [2.56%] New York St Dorm Auth 5.75% [1.85%] New York St Urban Dev Corp Rev Inco 5.5% [1.53%] New York St Pwr Auth 5.25% [1.49%] New York N Y City Transitional 5% [1.18%] New York N Y City Mun Wtr Fin Wtr Swr 5% [1.17%] New York St Dorm Auth 5% [1.16%] Metropolitan Transn Auth 5% [1.15%] New York St Dorm Auth 5% [1.1%]

30-Sep-09 New York St Twy Auth 5.5% [2.98%] New York Convention Ctr Dev Co Rev Bd 5% [2.67%] New York St Dorm Auth 5.75% [1.83%] New York St Urban Dev Corp Rev Inco 5.5% [1.59%] New York St Pwr Auth 5.25% [1.48%] New York St Dorm Auth 5% [1.19%] New York N Y City Mun Wtr Fin Wtr Swr 5% [1.19%] New York N Y City Transitional 5% [1.18%] METROPOLITAN TRANSN AUTH N Y D TAX FUND [1.17%] New York St Dorm Auth 5.25% [1.12%]

31-Aug-09 New York St Twy Auth 5.5% [3.05%] New York Convention Ctr Dev Co Rev Bd 5% [2.58%] New York St Dorm Auth 5.75% [1.95%] New York St Urban Dev Corp Rev Inco 5.5% [1.62%] New York St Pwr Auth 5.25% [1.56%] New York N Y City Transitional 5% [1.23%] New York N Y City Mun Wtr Fin Wtr Swr 5% [1.21%] New York St Dorm Auth 5% [1.21%] METROPOLITAN TRANSN AUTH N Y D TAX FUND [1.19%] New York St Dorm Auth 5.25% [1.15%]

Click here for Stock Holding Change Map in Fidelity New York Municipal Income Fund (FTFMX)

  

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Latest News on Fidelity New York Municipal Income (FTFMX)

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Books and Resources

 

 

See more information on Fidelity New York Municipal Income Fund (FTFMX)

• Fidelity New York Municipal Income Fund Insights
• Fidelity New York Municipal Income Fund Performance Data
• Fidelity New York Municipal Income Fund News
• Fidelity New York Municipal Income Fund Score Explaination
• Fidelity New York Municipal Income Fund Manager Information
• Historic Fidelity New York Municipal Income Fund Asset Allocation Report
• Historic Fidelity New York Municipal Income Fund Top 10 Holding Tracking
• Historic Fidelity New York Municipal Income Fund Asset Under Management Tracking